ENGLAND THE 1980S - 1990S

A "Topper" at a Discount House. He carries no brief case or files, a clue that might suggest that he was indeed a Partner or Senior Staff at Discount House, rather than a runner for a stock broker. ( Discount House primarily operated in the UK. They bought and sold discounts and/or negotiates bills of exchange or promissory notes. This is generally performed on a large scale with transactions that also include government bonds and treasury bills.) The "privileged" position...more »

A "Topper" at a Discount House. He carries no brief case or files, a clue that might suggest that he was indeed a Partner or Senior Staff at Discount House, rather than a runner for a stock broker. ( Discount House primarily operated in the UK. They bought and sold discounts and/or negotiates bills of exchange or promissory notes. This is generally performed on a large scale with transactions that also include government bonds and treasury bills.) The "privileged" position of the Discount Houses vis a vis the Bank of England ended in 1996. Traditionally they never took notes of their meetings: they were supposed to remember the details. The wearing of top hats was abandoned during the mid to late 1980s.« less